Hi,
Can a public limited company accept unsecured loan from an individual. the loan would bear an interest of 12 pc
3 Replies
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 10 September 2010
yes company taken the loan form individual but before taken the loan all prosedure must be done
Shruti Chawla
(CS)
(258 Points)
Replied 10 September 2010
Hi,
Can u please elaborate on the procedure to be followed....
Mansi
(Article)
(61 Points)
Replied 10 September 2010
Hey,
Public company can accept it in form of deposits but it should not exceed 10% of aggregate of paid - up capial & free reserves and the interest rate shud not exceed 12.5 % and it has to comply wid Acceptance of Deposits Rules, 1997 (latest Amended)
M attachin it for ur ready go thru it n if u hav ne doubts den do let me know?
Regards
Mansi N.Gadoya
Attached File : 26 acceptance of deposits rules.pdf downloaded: 218 times
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